Morningstar

MORN • NASDAQ

Morningstar is a financial - data & stock exchanges company in the financial services sector on NASDAQ, led by Kunal Kapoor, with a market cap of $8.9B. As of Q3 2025, 59% of shares are held by 444 institutional investors, with VANGUARD GROUP INC as the largest holder at 6.19%.

CEOKunal Kapoor

Market Cap$8.9B

Financial - Data & Stock Exchanges

Financial Services

Employees11.3K

Websitemorningstar.com

Country

United States of America

Overview

Overview of institutional ownership in MORN as of Q3 2025 with a market cap of $9.8B

All Institutions

Institutions: 444
Value Held: $5.8B
Shares Held: 24.9M
Avg Position: $13.0M
Median Position: $922.0K

Hedge Funds

Hedge Funds: 51
Value Held: $1.2B
Shares Held: 5.2M
Avg Position: $23.9M
Median Position: $4.4M

Ownership Breakdown

Institutional (non-HF)

46.51%

$4.6B

Hedge Funds

12.44%

$1.2B

Retail & Other

41.05%

$4.0B

Based on market cap of $9.8B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in MORN as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$605.6M 0.01% of portfolio	6.19% 2.6M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$555.6M 0.01% of portfolio	5.68% 2.4M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
Select Equity Group, L.P. Hedge Fund•Multi-Strategy	George Stabler Loening Chairman	$488.1M 2.00% of portfolio	4.99% 2.1M shares	Q2 2019 Held for 6y 5m	$24.4B
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$454.5M 0.03% of portfolio	4.64% 2.0M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
BAMCO INC /NY/ Long Only Manager	Ronald Stephen Baron CEO	$328.1M 0.87% of portfolio	3.35% 1.4M shares	≤ Q2 2013 Held for 12y 5m+	$37.7B
KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC Long Only Manager	George Robert Aylward CEO	$177.6M 0.43% of portfolio	1.81% 765.5K shares	≤ Q2 2013 Held for 12y 5m+	$41.0B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$177.1M 0.01% of portfolio	1.81% 763.2K shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$142.9M 0.01% of portfolio	1.46% 615.8K shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
WELLINGTON MANAGEMENT CO LLP Long Only Manager	Edmund Wellington Iii President	$142.2M 0.02% of portfolio	1.45% 612.8K shares	Q3 2023 Held for 2y 2m	$571.21B
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	David Gary Kabiller Founder	$141.1M 0.09% of portfolio	1.44% 608.2K shares	Q3 2015 Held for 10y 2m	$156.17B

Net Capital Flow

Institutional buying and selling activity for MORN in Q3 2025

Net Flow: −$219.3M
Buyers: 167
Sellers: 250
Total Bought: +$836.2M
Total Sold: −$1.1B
Avg Position: $12.1M

Biggest Buyers

Institution	Net Bought	Current Position
Select Equity Group, L.P. Hedge Fund•Multi-Strategy	+$229.8M +990.4K shares	$488.1M 2.1M shares
AQR CAPITAL MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$72.9M +314.3K shares	$141.1M 608.2K shares
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	+$45.4M +195.6K shares	$106.9M 460.8K shares
VOLORIDGE INVESTMENT MANAGEMENT, LLC Hedge Fund•Multi-Strategy	+$34.0M +146.7K shares	$43.4M 187.1K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$29.1M +125.5K shares	$66.4M 286.2K shares
C Colony Group, LLC Institution	+$28.9M +124.6K shares	$29.9M 128.9K shares
BAMCO INC /NY/ Long Only Manager	+$27.6M +119.0K shares	$328.1M 1.4M shares
DF DENT & CO INC Long Only Manager	+$26.1M +112.6K shares	$46.3M 199.6K shares
UBS Group AG Institution	+$23.0M +99.0K shares	$36.4M 156.7K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	+$22.5M +97.0K shares	$67.4M 290.6K shares

Biggest Sellers

Institution	Net Sold	Current Position
BANK OF AMERICA CORP /DE/ Institution	−$174.6M −752.5K shares	$37.0M 159.6K shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$118.9M −512.4K shares	$69.3M 298.7K shares
Allspring Global Investments Holdings, LLC Long Only Manager	−$66.2M −212.2K shares	Sold Off 0 shares
GOLDMAN SACHS GROUP INC Institution	−$64.7M −279.0K shares	$22.8M 98.5K shares
WASATCH ADVISORS INC Long Only Manager	−$63.3M −272.9K shares	$86.3M 371.9K shares
A Amundi Institution	−$50.5M −162.7K shares	Sold Off 0 shares
MASSACHUSETTS FINANCIAL SERVICES CO /MA/ Long Only Manager	−$43.8M −188.9K shares	$104.7M 451.2K shares
WELLINGTON MANAGEMENT CO LLP Long Only Manager	−$39.0M −168.0K shares	$142.2M 612.8K shares
A Assenagon Asset Management S.A. Institution	−$33.1M −105.4K shares	Sold Off 0 shares
B BlackRock, Inc. Institution	−$28.9M −124.7K shares	$555.6M 2.4M shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited MORN in Q3 2025

New Positions: 29
New Value: $16.4M
Exited Positions: 73
Exited Value: $240.5M

New Positions

Institution	Position Value
Touchstone Capital, Inc. RIA/Wealth	$6.1M 26.2K shares
G Gallo Partners, LP Hedge Fund•Sector	$3.1M 13.3K shares
CenterBook Partners LP Hedge Fund•Market Neutral	$1.1M 4.7K shares
SUMMIT WEALTH GROUP LLC / CO RIA/Wealth	$862.8K 3.7K shares
P Polymer Capital Management LLC Hedge Fund•Multi-Strategy	$844.3K 3.6K shares
F Farringdon Capital, Ltd. Institution	$835.5K 3.6K shares
Numerai GP LLC Hedge Fund•Quant	$799.7K 3.4K shares
E EntryPoint Capital, LLC Hedge Fund•Long/Short	$553.8K 2.4K shares
Krilogy Financial LLC RIA/Wealth	$491.0K 2.3K shares
Verdence Capital Advisors LLC RIA/Wealth	$298.9K 1.4K shares

Exited Positions

Institution	Previous Position
Allspring Global Investments Holdings, LLC Long Only Manager	$66.2M 212.2K shares
A Amundi Institution	$50.5M 162.7K shares
A Assenagon Asset Management S.A. Institution	$33.1M 105.4K shares
TORONTO DOMINION BANK Institution	$15.9M 50.6K shares
T Tribune Investment Group LP Hedge Fund•Event Driven	$8.8M 28.0K shares
ExodusPoint Capital Management, LP Hedge Fund•Multi-Strategy	$8.5M 27.1K shares
Edgestream Partners, L.P. Hedge Fund•Quant Macro	$6.3M 20.2K shares
M Motley Fool Wealth Management, LLC Institution	$6.2M 19.7K shares
T TEXAS PERMANENT SCHOOL FUND Institution	$5.4M 17.1K shares
Symphony Financial, Ltd. Co. RIA/Wealth	$5.3M 17.0K shares

Options Activity

Institutions with the largest Call and Put options positions in MORN as of Q3 2025

Call Positions: 4
Call Value: $14.2M
Put Positions: 3
Put Value: $1.9M

Call Positions

Institution	Position Value
W WOLVERINE TRADING, LLC Institution	$9.0M 384.0 contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.9M 83.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.9M 80.0 contracts
J JANE STREET GROUP, LLC Institution	$1.5M 63.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$1.2M 53.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$394.4K 17.0 contracts
W WOLVERINE TRADING, LLC Institution	$234.1K 10.0 contracts

Most Committed Institutions

Institutions with MORN as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
I Incline Global Management LLC Hedge Fund•Long/Short	Jeffrey Louis Lignelli CEO	4.61% $15.5M	0.16% 67.0K shares	Q3 2025 Held for 2 months	$337.3M
Touchstone Capital, Inc. RIA/Wealth	Theodore Stephen Kerr CEO	3.30% $6.1M	0.06% 26.2K shares	Q3 2025 Held for 2 months	$184.2M
G Gallo Partners, LP Hedge Fund•Sector	Michael Arthur Alfaro Founder	2.32% $3.1M	0.03% 13.3K shares	Q3 2025 Held for 2 months	$133.0M
Sea Cliff Partners Management, LP Hedge Fund•Long/Short	Lesley Ann Bunim Partner	2.21% $6.0M	0.06% 26.0K shares	Q2 2025 Held for 5 months	$273.5M
Select Equity Group, L.P. Hedge Fund•Multi-Strategy	George Stabler Loening Chairman	2.00% $488.1M	4.99% 2.1M shares	Q2 2019 Held for 6y 5m	$24.4B
C COOPER INVESTORS PTY LTD Institution	-	1.99% $7.2M	0.07% 31.0K shares	Q4 2024 Held for 11 months	$362.0M
B BARLOW WEALTH PARTNERS, INC. RIA/Wealth	Barry Owens Barlow Managing Partner	1.41% $12.6M	0.14% 57.5K shares	Q4 2023 Held for 1y 11m	$898.6M
B Bradyco, Inc. Institution	-	1.28% $1.1M	0.01% 4.9K shares	Q4 2024 Held for 11 months	$88.2M
L Liontrust Investment Partners LLP Long Only Manager	Philip Nordell Carey CEO	1.21% $86.1M	0.88% 371.2K shares	Q1 2023 Held for 2y 8m	$7.1B
AMERICAN CAPITAL MANAGEMENT INC Long Only Manager	David Mark La Valle CEO	0.92% $23.0M	0.24% 99.2K shares	≤ Q2 2013 Held for 12y 5m+	$2.5B

Hedge Fund Spotlight

Discover hedge funds investing in MORN

ARROWSTREET CAPITAL LIMITED PARTNERSHIP

Hedge Fund • Quant

Portfolio ManagerAnthony Ryan

Portfolio Value: $158.92B
Positions: 1,827
Last Reported: Q3 2025

Sector Allocation

Position in Morningstar

Market Value: $67.4M
Shares Held: 290.6K
Portfolio Weight: 0.04%
Owned Since: 2023-Q4

Top Holding	Sector	Market Value	Weight
1 Apple AAPL	Consumer Electronics Technology	$7.2B	4.51%
2 Microsoft MSFT	Software - Infrastructure Technology	$6.5B	4.11%
3 Nvidia NVDA	Semiconductors Technology	$4.8B	3.02%